FUNDING RETAIL EXPANSION NATIONAL
MUMBAI, MAHARASHTRA, INDIA
By IFAB MEDIA - NEWS BUREAU - January 10, 2024 | 114 3 minutes read
Unirec, the Mumbai-based sustainable fashion brand, has successfully secured a substantial investment of Rs 1.5 crore ($190,000) in its recent seed funding round. BeyondSeed, a prominent Singapore-based seed fund, emerges as the primary investor, signaling a pivotal moment for Unirec's ambitious expansion plans.
Fueling Growth and Innovation:
The funding infusion from BeyondSeed is poised to propel Unirec's market expansion initiatives, advance research endeavors, and facilitate the development of cutting-edge sustainable fabrics. Kapil Bhatia, CEO and founder of Unirec, emphasizes the company's immediate goal of manufacturing and selling 25,000 garments per month. This financial boost is a crucial catalyst in realizing this rapid scaling objective.
Unirec's Innovative Sustainability Model:
Over the past 18 months, Unirec has made remarkable strides in sustainable fashion, producing a total of 40,000 garments. Notably, more than 25,000 of these garments are crafted from recycled polyethylene terephthalate (PET) bottles. Unirec's pioneering approach involves transforming ten plastic bottles into a single garment, offering an impressive range of men's and women's fashion wear.
Transformative Collaboration:
Kuldeep Mirani, co-founder and CEO of BeyondSeed, expresses enthusiasm about the strategic collaboration with Unirec. Mirani emphasizes the shared commitment to transforming global plastic waste challenges into opportunities. The collaboration extends support not only to an innovative concept but also to a highly skilled and passionate team with a visionary approach to addressing a globally significant concern.
Unirec's collaboration with BeyondSeed stands as a testament to the growing recognition and support for sustainable fashion ventures that actively contribute to addressing environmental issues on a global scale.